Daniel Shin is a prolific entrepreneur and angel investor with a series of successful investments to his name. The co-CEO of PortOne, Daniel Shin, made his first stake to fame with the founding of TMON, the leading e-commerce platform in Korea. After reaching more than $3.5 billion GMV, Shin would find himself navigating into new industries, eventually founding TicketMonster, which has since become another top e-commerce platform in Korea.
Most recently, Shin was decorated for his work through recognition in Wharton Magazine, where he was named on their list of 40 Under 40 Wharton Graduates. Taking time to share what has made him so successful in recent years, Shin would sit down with IdeaMensch for a sprawling and engaging conversation.
Construction of an Entrepreneur
Entrepreneurs aren’t simply lucky individuals who find themselves investing in the right ideas at the right time. Building a successful future requires planning as well as a unique approach to getting the proper mindset in place. For Daniel Shin, getting his habits and mindsets correct was some of the most influential things he has ever done.
Shin believes that every day should start with a few focused decisions that reign supreme over other ideas. Shin says, “These days, I try to think hard about what is most important and what is a priority. Focusing on a few key decisions (…) is significantly more effective than doing everything in an average way.”
Additionally, Shin thinks that entrepreneurs should be looking for prospects of opportunity whenever and wherever they can. Shin is mainly taken by artificial intelligence as well as the availability to improve upon older systems. As an example, Shin says that improving sleep apnea support machines has an opening for savvy minds.
Shin stated, “Significantly improving this, I believe, can be a huge market as well as an improvement to the lives of hundreds of millions of people.”
Changing Your Mindset
While preparing for the day is uniquely essential, Daniel Shin also believes in keeping his mind focused on the future. For right now, Shin believes that AI is the Next Big Thing that investors need to look closely at. Shin says, “Being able to real-time analyze digital businesses by the numbers and recommend actions to help improve the business (…) can be a game changer.”
To focus on these concepts, Shin suggests taking a strong stance when it comes to time management. Getting things done and maintaining a list of priorities will ensure people stay caught up. With that being said, life is a marathon and not a sprint. Shin says, “Take the time to have lots of fun along the way!”
Another way that Daniel Shin likes to get his mind right when it pertains to the office is by changing his physical location. Shin believes that you can change your mindset by changing your environment, so he advocates for doing work in places that aren’t an office.
Shin says of changing his workplace, “This allows me to think and zone in on what I believe in.”